We encourage submissions of photos which can be used on the web sites for framework
for various approaches, non-market-based approaches and new market-based mechanism. Photo
submissions can be made to: Mechanisms@unfccc.int

Combatting climate change will require mobilization of substantial resources. Success will depend on
the establishment of mechanisms and approaches that incentivize the mobilization of resources for
cost-effective and ambitious climate action at all levels. Cooperation between Parties and between
private and public-sector stakeholders is considered crucial.

COP.18 (Doha,
2012) requested the Subsidiary Body for Scientific and Technological Advice (SBSTA) to conduct three
work programmes to elaborate:

This
Decision captured the outcome of several years of negotiations under the AWG-LCA. Pursuant to the
Bali Action
Plan,
COP.16 (Cancun, 2010) decided to consider the establishment of one or more market-based and
non-market based mechanisms and agreed on criteria to guide their implementation. COP.17 (Durban,
2011) defined a new market-based mechanism and decided to consider a framework for various
approaches.

Recent development

New!
The SBSTA 41 (December 2014, Lima, Peru) was unable to reach an agreement on the FVA, NMA and the NMM.
The discussions will continue at SBSTA 42 (June, Bonn, Germany) with a view to recommending draft
decisions for consideration and adoption by COP 21 (December 2015, Paris, France).

The SBSTA 40 (June 2014, Bonn, Germany) adopted conclusions on its work programmes to elaborate
the framework for various approaches FCCC/SBSTA/2014/L.10, non-market-based approaches
FCCC/SBSTA/2014/L.11 and modalities and procedures for the new market-based mechanism
FCCC/SBSTA/2014/L.12, containing agreed activities before SBSTA 41 (December 2014, Lima
Peru).
Those activities included calls for submissions by 22 September 2014 to clarify various issues related
to the design and operation of the FVA, NMA and the NMM and the preparation of technical
papers for consideration at SBSTA 41.